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Sun Life U.S. expands critical illness coverage to include family planning services

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Sun Life U.S. has expanded its critical illness (CI) coverage to include family planning care, behavioral health, and a broader range of health conditions. This expansion aligns with the company's commitment to helping people access necessary care and coverage. The new Family Care benefit covers treatments like in vitro fertilization, adoption, and medical issues related to childbirth. Additionally, Sun Life has introduced a Mental Health benefit that includes access to AbleTo SelfCare and a Health Navigator Help Line.

The expansion builds on earlier additions such as COVID-19 coverage and virtual behavioral health for cancer patients. Sun Life's supplemental health coverages also provide a wellness benefit to encourage preventive screenings. This move reflects the evolving needs of today's workforce and the increasing importance of specialized benefits in employee job considerations.

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Positive

  • Expansion of critical illness coverage to include family planning and mental health services
  • Introduction of Family Care benefit covering fertility treatments and adoption
  • Addition of Mental Health benefit with access to virtual wellness tools and personal care advisors
  • Inclusion of wellness benefits to encourage preventive screenings

Negative

  • None.

News Market Reaction 1 Alert

-2.18% News Effect

On the day this news was published, SLF declined 2.18%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

WELLESLEY, Mass., Aug. 1, 2024 /PRNewswire/ -- Keeping up with the ever-changing health care landscape, Sun Life U.S. has expanded its critical illness (CI) coverage to include family planning care, behavioral health and a broader range of health conditions and diseases. Supplemental health benefits, which include CI, accident and hospital indemnity insurance, complement core health insurance by providing lump sum payments to people when they encounter a covered condition. Traditionally, CI coverage includes cancer, cardiac arrest or disease and stroke. The expansion of Sun Life's supplemental health benefits aligns with the company's ongoing commitment to helping people access the care and coverage they need.

"Family planning issues can include complex health concerns that affect a broad range of workers and their families," said David Healy, president of Group Benefits, Sun Life U.S. "By adding this extremely sought-after benefit to our CI coverage, we can serve our clients and members effectively and compassionately, helping people address their needs without the added concern of financial stress."

In today's workplace, access to fertility benefits are emerging as a key benefit consideration among employees planning a family. Sun Life's Family Care benefit covers typical treatments, such as invitro fertilization, as well as alternative approaches like adoption. The benefit also covers medical issues related to childbirth, including complications during pregnancy and newborn complications.

"Critical illness coverage should grow with the evolving needs of today's workforce," said Bryan Burke, assistant vice president, Product Management and Development, Sun Life U.S. "We see that employees are prioritizing benefits more when they consider jobs, and seeking out specialized coverages that meet their needs. While conditions like cancer or cardiovascular disease are still prevalent and need to be covered, issues like family planning and mental health are of particular interest to employees."

With mental health concerns more prevalent in the U.S. than ever before, additional coverage can help move the needle by encouraging people to seek the care they need, while additional support services can help people see improved results, sooner. Sun Life's CI Mental Health benefit includes access to AbleTo SelfCare, a virtual solution that helps manage mental wellness, including digital tools to help reduce stress and anxiety, and the Health Navigator Help Line, which provides access to personal care advisors who can offer guidance on finding the right physicians or centers of excellence for a particular condition.

This latest expansion of its CI coverage builds on Sun Life's earlier additions, which include COVID-19 (added in 2021) and virtual behavioral health for those diagnosed with cancer. Sun Life supplemental health coverages also provide a wellness benefit to encourage people to get screenings that can help them detect health conditions earlier and get the care they need to achieve better health outcomes.

For more information about Sun Life critical illness and other supplemental health benefits, visit www.sunlife.com/us/en/employers/products-and-services/supplemental-health/

About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2024, Sun Life had total assets under management of C$1.47 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Sun Life U.S. is one of the largest providers of employee and government benefits, helping more than 50 million Americans access the healthcare and coverage they need. Through employers, industry partners and government programs, Sun Life U.S. offers a portfolio of benefits and services, including dental, vision, disability, absence management, life, supplemental health, medical stop-loss insurance, and healthcare navigation. Sun Life employs more than 8,500 people in the U.S., including associates in our partner dental practices and affiliated companies in asset management. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information visit our website and newsroom.

Media contacts

Devon Fernald
Sun Life U.S.
Devon.Portney.Fernald@sunlife.com
781-800-3609

Anjie Coplin
Sun Life U.S.
Anjie.Coplin@sunlife.com
214-549-1553

Connect with Sun Life U.S.

https://www.facebook.com/SLFUnitedStates   
https://www.linkedin.com/company/sun-life-financial  

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-us-expands-critical-illness-coverage-to-include-family-planning-services-302212741.html

SOURCE Sun Life U.S.

FAQ

What new services does Sun Life's expanded critical illness coverage include?

Sun Life's expanded critical illness coverage now includes family planning care, behavioral health services, and a broader range of health conditions and diseases, in addition to traditional coverage for cancer, cardiac arrest, and stroke.

How does Sun Life's Family Care benefit support employees planning a family?

Sun Life's Family Care benefit covers treatments such as in vitro fertilization and adoption, as well as medical issues related to childbirth, including complications during pregnancy and newborn complications.

What mental health support does Sun Life (SLF) offer in its critical illness coverage?

Sun Life's critical illness coverage includes a Mental Health benefit with access to AbleTo SelfCare, a virtual solution for managing mental wellness, and the Health Navigator Help Line for guidance on finding appropriate healthcare providers.

When did Sun Life add COVID-19 coverage to its critical illness insurance?

Sun Life added COVID-19 coverage to its critical illness insurance in 2021.
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